Argyle Capital Management Inc. lifted its stake in Halliburton (NYSE:HAL – Get Rating) by 1.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,950 shares of the oilfield services company's stock after purchasing an additional 600 shares during the period. Argyle Capital Management Inc.'s holdings in Halliburton were worth $1,943,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in HAL. BlackRock Inc. lifted its stake in Halliburton by 8.1% in the first quarter. BlackRock Inc. now owns 72,922,850 shares of the oilfield services company's stock worth $2,761,589,000 after acquiring an additional 5,460,366 shares during the period. Capital World Investors lifted its stake in Halliburton by 1.5% in the first quarter. Capital World Investors now owns 61,612,082 shares of the oilfield services company's stock worth $2,333,250,000 after acquiring an additional 915,157 shares during the period. State Street Corp lifted its stake in Halliburton by 0.5% in the first quarter. State Street Corp now owns 57,765,090 shares of the oilfield services company's stock worth $2,187,564,000 after acquiring an additional 289,098 shares during the period. Norges Bank purchased a new stake in Halliburton in the fourth quarter worth about $487,897,000. Finally, Sanders Capital LLC lifted its stake in Halliburton by 1.5% in the fourth quarter. Sanders Capital LLC now owns 20,700,390 shares of the oilfield services company's stock worth $528,378,000 after acquiring an additional 313,993 shares during the period. 80.60% of the stock is currently owned by institutional investors.
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Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on HAL shares. ATB Capital upped their price objective on shares of Halliburton to $46.50 in a research note on Friday, July 22nd. Stephens decreased their price target on shares of Halliburton to $32.00 in a research report on Friday, July 22nd. Morgan Stanley decreased their price target on shares of Halliburton from $45.00 to $40.00 and set an "overweight" rating for the company in a research report on Wednesday, July 13th. The Goldman Sachs Group decreased their price target on shares of Halliburton from $46.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, July 13th. Finally, Barclays increased their price target on shares of Halliburton from $50.00 to $53.00 and gave the company an "overweight" rating in a research report on Wednesday, June 8th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $39.53.
Halliburton Stock Performance
HAL stock traded down $0.39 on Thursday, hitting $24.35. The company's stock had a trading volume of 278,733 shares, compared to its average volume of 9,027,234. The firm has a 50 day moving average of $28.67 and a two-hundred day moving average of $33.48. Halliburton has a 1 year low of $20.77 and a 1 year high of $43.99. The stock has a market cap of $22.08 billion, a price-to-earnings ratio of 15.56 and a beta of 2.11. The company has a current ratio of 2.15, a quick ratio of 1.60 and a debt-to-equity ratio of 1.19.
Halliburton (NYSE:HAL – Get Rating) last released its quarterly earnings results on Tuesday, July 19th. The oilfield services company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.45 by $0.04. Halliburton had a net margin of 8.19% and a return on equity of 19.91%. The firm had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.71 billion. During the same quarter in the prior year, the firm earned $0.26 EPS. Halliburton's revenue for the quarter was up 36.9% on a year-over-year basis. Equities analysts predict that Halliburton will post 2.01 EPS for the current fiscal year.
Halliburton Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 28th. Shareholders of record on Wednesday, September 7th were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, September 6th. This represents a $0.48 dividend on an annualized basis and a yield of 1.97%. Halliburton's payout ratio is currently 30.19%.
About Halliburton
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Halliburton Company provides products and services to the energy industry worldwide. It operates in two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems; production solutions comprising coiled tubing, hydraulic workover units, downhole tools, and pumping and nitrogen services; and pipeline and process services, such as pre-commissioning, commissioning, maintenance, and decommissioning.
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